An Estate Planning Toolkit to Benefit You, Iraivan Temple & Other Worthy Causes

An elderly couple compose a will that assigns their assets to family and to their favorite charity, in their case the Iraivan Temple Endowment in Hawaii. They could also give to an orphanage, an ashram or dozens of other good causes

If your estate plan is out of date or nonexistent, the Hindu Heritage Endowment (HHE) wants to help. "We're happy to send our complimentary estate planning toolkit to anyone on request," says Shanmuganathaswami, Charitable Funds Manager for HHE. Phil Murphy, Estate Planning Advisor for HHE, adds, "We want supporters and their families to avoid the unnecessary legal fees, taxes, family dissension and delay that result from dying intestate (without a will). It can be costly to your family and leaves you no say over who gets your assets."

Though it is not a substitute for legal advice, the kit does prepare people to meet with an attorney, he said. "It also addresses important nonlegal questions regarding final ceremonies, obituary preparation and the whereabouts of legal documents, such as insurance policies and wills." When asked who should order the toolkit, he offered, "Anyone who reads this article. Facing our mortality is a subject we usually avoid. Our estate planning toolkit can help anyone come up with a plan they are happy with."

There are more than legal issues at stake, Phil adds. "The Hindu faith is family centered. Uncertainty about the disposition of a parent's assets can create severe tension among children while parents are alive and conflict among them if parents die with no plan or a flawed plan." He cites four common estate-planning errors and shortcomings:

1. Having no written will, living trust, or plan to avoid conservatorship.

2. Vagueness regarding the distribution of personal property, such as art, books, jewelry and furnishings, that may have both sentimental and monetary value.

3. Conflicting instructions, especially in second marriages, where a parent wants property to pass to a child but holds it in joint tenancy with a spouse.

4. Outdated or incorrect beneficiary designations on financial and brokerage accounts.

Phil also encourages supporters to get instant estate planning information from the planned giving section of HHE's website. "Visitors can review the basics of wills, revocable living trusts, powers of attorney and health-care wishes." The website also provides a glossary of commonly used planned giving and estate planning terms. "Good causes like HHE benefit when their supporters have estate plans," Phil observes. "For example, only six percent of US citizens leave cash gifts to charity at death. That's probably because so many have no written plans."

To learn more about setting up your own estate and life income plan to provide immediate tax and income benefits to you and your family, while also providing a future gift to the temple or another HHE cause, please visit www.hheonline.org.

Go here to download a complementary estate planning toolkit.

July to September 2009 Endowment Contributions

MISSION STATEMENT

Hindu Heritage Endowment is a publicly supported, charitable organization recognized as tax exempt by the IRS on April 22, 1994. Employer ID 99-0308924. Founded by Satguru Sivaya Subramuniyaswami, its philanthropic mission is to provide secure, professionally managed financial support for institutions and religious leaders of all lineages of Sanatana Dharma.

PROFESSIONAL ADVISORS

Halbert/Hargrove, Investment Counsel; Sonoda & Isara, LLP, CPA. HHE is a member of the Council on Foundations, an association of more than 2,000 foundations which interprets relevant law and management and investment principles, and of the National Committee on Planned Giving, the voice and professional resource for the gift planning community.

I want to participate. Where should I Send My Donation?

You may send your gift to an existing fund, create a new Endowment or request information through the address below.

Donations may be made online at www.hheonline.org or use the HHE tear-out card in the HINDUISM TODAY magazine to join our family of benefactors who are Strengthening Hinduism Worldwide. Thank you.